Here is a pic from Spyderco, there point is that a serrated blade edge is actually longer
Excellent diagram.
Not only is the cutting surface longer, but far more important are the
penetration points, the teeth, whose purpose is the same on saws and mouths, each functioning as a talon which not only has increased metal support for prolonged strength & durability (vs. a plain edge) but also penetrates material MUCH more efficiently. And as an added benefit, these durable teeth protect the curved (and usually hollow/very-acute) cutting edge from impact on resistant materials.
Serrated edges possess superior cutting ability on ALL materials if you are making a
slice-cut.
However, that superiority can be a problem if you are trying to cleanly shave just the surface of something - the teeth will penetrate below the surface before the rest of the blade (the curved portions) makes contact, resulting in gouging, and push-shaving results in these gouges tearing away at the sides from the material which the recessed sections of blade haven't managed to cut. For this reason, people prefer plain edges for carving/whittling wood, shaving/scraping hair or other materials from a surface, and for slicing very thin sheets of material.
For very stretchy material (e.g. skin, conjuctiva), serrations penetrate more easily but do not penetrate evenly along the entire cutting surface like a plain-edge does. Because of this, the plain-edge, while it takes more force to penetrate, produces a cleaner cut, which can be essential for some purposes like surgery (clean cuts reduce trauma to the material and heal faster).
On the other hand, if you want to maximize damage to such materials while cutting through as easily as possible, go with the serrated edge
To help you understand the penetration advantage offered by serrated edges, stand on some well packed earth and drive a flat-nosed shovel into the ground. Then do the same (with the same amount of force) with a spade of similar dimensions. Which one went in easier? Now use each to try and skim a thin layer of earth off the surface - which worked better?